Percent Of Monthly Gross Income Rule


Definition of "Percent of monthly gross income rule"

Jacqueline  Benjamin real estate agent
Jacqueline Benjamin, Real Estate Agent Southern Homes of the Carolinas

Rule stating that the monthly mortgage payment, property taxes, and insurance should not exceed 25% of a family's monthly gross income, or about 35% for a Federal Housing Administration (FHA) or Veterans Administration(VA) mortgage.

 

Need help from a real estate agent?


Buy Sell Rent

I agree to receive FREE real estate advice.

Are you a realtor and want to become a member?


Residential Rental Commercial

I agree to receive FREE real estate advice.

Have a question or comment? We're here to help.

 

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Popular Real Estate Questions